CIBC Private Wealth Group LLC Has $126.41 Million Stake in monday.com Ltd. (NASDAQ:MNDY)

CIBC Private Wealth Group LLC raised its position in monday.com Ltd. (NASDAQ:MNDY) by 264.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 555,929 shares of the company’s stock after purchasing an additional 403,255 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in monday.com were worth $126,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in monday.com by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,039 shares of the company’s stock valued at $6,677,000 after purchasing an additional 1,353 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of monday.com by 7.1% in the third quarter. Daiwa Securities Group Inc. now owns 3,011 shares of the company’s stock valued at $836,000 after buying an additional 200 shares during the last quarter. Independent Advisor Alliance acquired a new stake in shares of monday.com in the third quarter valued at approximately $201,000. The Manufacturers Life Insurance Company boosted its stake in shares of monday.com by 8.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,349 shares of the company’s stock worth $3,708,000 after acquiring an additional 994 shares during the period. Finally, FMR LLC increased its holdings in shares of monday.com by 112.0% during the 3rd quarter. FMR LLC now owns 1,512,094 shares of the company’s stock worth $420,014,000 after acquiring an additional 798,791 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

Wall Street Analyst Weigh In

MNDY has been the subject of a number of research analyst reports. DA Davidson raised shares of monday.com from a “neutral” rating to a “buy” rating and set a $350.00 price objective for the company in a research report on Monday, March 17th. Piper Sandler lifted their target price on shares of monday.com from $345.00 to $385.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. KeyCorp upgraded shares of monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 price target on the stock in a research note on Tuesday, February 11th. Scotiabank cut their price objective on shares of monday.com from $400.00 to $315.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Finally, William Blair reaffirmed an “outperform” rating on shares of monday.com in a research report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $354.45.

monday.com Stock Down 3.4 %

Shares of MNDY stock opened at $247.01 on Friday. The business has a fifty day simple moving average of $272.99 and a 200 day simple moving average of $270.30. The company has a market cap of $12.54 billion, a P/E ratio of 411.68, a P/E/G ratio of 16.53 and a beta of 1.27. monday.com Ltd. has a twelve month low of $174.75 and a twelve month high of $342.64.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, February 10th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a return on equity of 6.22% and a net margin of 3.33%. As a group, equities research analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

monday.com Profile

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.